Shopify Inc. (NYSE:SHOP) Stock Holdings Lowered by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP reduced its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 30.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,779 shares of the software maker's stock after selling 47,522 shares during the quarter. Sustainable Growth Advisers LP's holdings in Shopify were worth $11,354,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PFG Private Wealth Management LLC raised its holdings in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $39,000. Mather Group LLC. lifted its position in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after acquiring an additional 184 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Shopify in the 3rd quarter valued at approximately $33,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $46,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Down 6.2 %

NYSE:SHOP opened at $90.51 on Friday. The firm has a market capitalization of $117.19 billion, a PE ratio of 58.39, a PEG ratio of 4.82 and a beta of 2.60. The firm's fifty day simple moving average is $111.17 and its 200 day simple moving average is $98.29. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a research report on Tuesday, February 18th. DA Davidson upped their price target on shares of Shopify from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Evercore ISI upped their price target on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. ATB Capital upped their price target on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Finally, TD Securities upped their price target on shares of Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.31.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.

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